HC Deb 29 January 1979 vol 961 cc352-3W
Mr. MacGregor

asked the Chancellor of the Exchequer if he will estimate the additional revenue yield that would arise in 1979–80 from a Budget decision to raise the specific indirect taxes in line with the rise in retail prices during the calendar year 1978, setting out figures separately for each of the main taxes and indicating the effect on the retail price of the items concerned.

Mr. Robert Sheldon

Estimates of the extra revenue in the full year 1978–79 and on increases in prices, including VAT, are:

in the most recent financial year for which figures are available, by the Exchequer in interest payments on overdue tax owed to the Inland Revenue; and if he will indicate the number of cases involved.

Mr. Robert Sheldon

The interest charges raised for overdue tax in the accounting year to 27 October 1978 totalled almost £22 million. The number of cases involved was of the order of 363,000.